Manufacturers patronising local raw materials will pay lower taxes – FG
Nigerian manufacturers who research, develop and patronize local raw materials will soon be paying significantly lower taxes, the Director General/CEO of Raw Materials Research and Development Council (RMRDC), Professor Nnanyelugo Ike-Muonso, disclosed Tuesday. He said the incentive is an instrumental tool for attracting private-sector investment and stimulating technology-driven manufacturing in Nigeria. The DG spoke in […]
Nigerian manufacturers who research, develop and patronize local raw materials will soon be paying significantly lower taxes, the Director General/CEO of Raw Materials Research and Development Council (RMRDC), Professor Nnanyelugo Ike-Muonso, disclosed Tuesday.
He said the incentive is an instrumental tool for attracting private-sector investment and stimulating technology-driven manufacturing in Nigeria.
The DG spoke in Lagos on Tuesday at the opening ceremony of the Nigeria Manufacturing & Equipment/ Nigerian Raw Materials (NME/NIRAM) Expo 2025.
Organised by the Manufacturers Association of Nigeria (MAN) and the Raw Materials Research and Development Council (RMRDC), the three-day Expo, has “Accelerating Sustainable Manufacturing through Cutting-edge Technology Solutions” as the theme.
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In his remarks, Ike-Muonso hinted that the Federal Government had granted RMRDC the authority to implement significant tax‑incentive guidelines designed to reward manufacturers and innovators using locally sourced inputs in their production processes.
“Very soon, manufacturers who research, develop and patronize local raw materials will pay significantly lower taxes than those who do not. This is now an instrumental tool for attracting private-sector investment and stimulating technology-driven manufacturing.
“This landmark approval transmitted by the indefatigable Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji and endorsed by the Ministry of Finance, entitles compliant firms in agro‑processing, pharmaceuticals, polymers, fabric, green tech and so on tax credits, duty reliefs, investment allowances, and excise waivers. This is not policy tinkering; it is fiscal affirmation that the smartest supply chain is one made, right here, from the ground up,” he said.
On his part, the President of MAN, Francis Meshioye said the Expo aimed at engendering partnerships with green tech innovators to co-develop scalable and sustainable solutions for the manufacturing sector.